Oramed Pharmaceuticals Inc (NASDAQ: ORMP) announced several updates for its majority-owned company Oravax Medical Inc.
Oravax is gearing up to commence clinical trials for its oral COVID-19 vaccine, first in Israel, then in additional clinical sites internationally.
The Institutional Review Board (IRB) in Israel has approved the study protocol and is now pending approval from the Israeli Ministry of Health.
GMP manufacturing for the oral vaccine is underway.
It is the exclusive owner of a virus-like particle (VLP) vaccine technology that targets three SARS CoV-2 virus surface proteins, including proteins less susceptible to mutation, thus making the vaccine potentially effective against current and future variants.
The VLP vaccine is being tested in preclinical studies against COVID-19 variants, including the Delta variant.
Oramed is currently evaluating several options concerning its interest in Oravax, including distributing a portion of its holdings to its shareholders.
Oravax has out-licensed certain rights in the territory of India to Premas Biotech, the original developer of the novel vaccine.
It has licensed Premas the right to develop an injectable version of its VLP technology.
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